Dyax and ZymoGenetics Enter Into Library License Agreement for Discovery of Therapeutic Antibodies
Tuesday October 31, 7:30 am ET
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dyax Corp. (Nasdaq: DYAX - News) announced today that it has granted a non-exclusive license to its proprietary antibody phage display libraries to ZymoGenetics, Inc. (Nasdaq: ZGEN - News) for the discovery of therapeutic antibodies. This collaboration with ZymoGenetics is part of Dyax's Licensing and Funded Research Program (LFRP) partnered with Paul Royalty Fund. Under the terms of the agreement, Dyax will receive upfront and annual technology license fees, clinical milestone payments, and royalties on net sales of products that may result from ZymoGenetics's use of the Dyax libraries. The agreement provides ZymoGenetics a license to Dyax's antibody phage display technology and patent rights, as well as sublicenses to relevant third-party antibody phage display patents that may be used with Dyax's antibody phage display technology.
Commented Henry E. Blair, Chairman and Chief Executive Officer of Dyax, "We are very excited about this library license agreement with ZymoGenetics, a company dedicated to the development of protein drug therapeutics, as we continue to grow our extensive portfolio of licensees. Our committed business development team has been successful in actively building Dyax's Licensing and Funded Research Program which allows us to generate near-term revenue as well as potential milestones and royalties on future products."
About Dyax
Dyax is focused on advancing novel biotherapeutics for unmet medical needs, with an emphasis on cancer and inflammatory indications. Dyax utilizes its proprietary drug discovery technology to identify antibody, small protein and peptide compounds for clinical development.
Dyax's lead product candidate is DX-88, a recombinant small protein that is currently in clinical trials for its therapeutic potential in two separate indications. In its joint venture with Genzyme Corporation, Dyax has successfully completed three Phase II trials of DX-88 for the treatment of hereditary angioedema (HAE). A Phase III trial is ongoing. Independently, Dyax has successfully completed a Phase I/II trial of DX-88 for the prevention of blood loss during heart surgery (CABG procedures) and is planning a Phase IIb trial for further development of DX-88 in this indication. DX-88 has orphan drug designation in the U.S. and E.U. for the treatment of angioedema.
Dyax identified DX-88 and other compounds in its pipeline using its patented phage display technology, which rapidly selects compounds that bind with high affinity and specificity to therapeutic targets. Dyax leverages this technology broadly with over 75 revenue generating licenses and collaborations for therapeutic discovery, as well as in non-core areas such as affinity separations, diagnostic imaging, and research reagents. |
